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WATCH NOW fraudulent behaviour , freeing up claims handlers to focus on delivering good customer service . “ AI can play a significant role in speeding up the claims process in the insurance industry ,” asserts Jason Landrum , Global Chief Information Officer at Sedgwick .
“ By using AI-powered algorithms to analyse data and automate tasks , insurers can reduce the time it takes to process claims from initial filing to settlement . AI can also help detect fraudulent claims and provide insights into patterns of behaviour that can improve risk assessment and pricing . In addition , AI-powered chatbots and virtual assistants can improve customer experience by providing quick and efficient support to claimants . Overall , AI has the potential to streamline the claims process , reduce costs and enhance customer satisfaction – making it an important tool for insurers looking to stay competitive in an increasingly digital world .”
“ AI can play a significant role in speeding up the claims process in the insurance industry ”
JASON LANDRUM GLOBAL CHIEF INFORMATION OFFICER ,
SEDGWICK
Will AI replace humans in the insurance industry ? As AI has become a mainstream technology , a number of concerns have begun to surface . OpenAI ’ s ChatGPT , launched in November 2022 , has been a hot topic of late . But concerns about the privacy and security of data have resulted in a ban in Italy , and other governments are looking cautiously towards the AI sector . The CEO of OpenAI
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